Vodafone Idea gains active subscribers after almost 2 years
What's the story
Vodafone Idea Limited (VIL) has broken its 21-month-long losing streak by gaining active subscribers for the first time in nearly two years. The firm's active subscriber base grew by some 20,000 connections in September 2025, according to a report by Jefferies. This comes after VIL had been losing an average of 1.7 million subscribers every month throughout last year.
Improvement
A significant drop in subscriber losses
VIL's monthly subscriber losses have dropped significantly to an average of 600,000 in 2025. This is a whopping 65% improvement from the previous year's rate of decline. The company's performance in September was particularly impressive as it gained active subscribers in 15 out of 22 telecom circles across India.
Market influence
Recovery reduces risks for Indus Towers
The recovery of VIL directly affects Indus Towers, India's largest telecom infrastructure provider. Indus Towers heavily relies on VIL for rental revenues from tower sites. A recovery in VIL's operational health reduces the risk of payment defaults that have previously hurt Indus Towers's financial performance. However, despite these improvements, VIL still lost 700,000 subscribers in September, and its active subscriber base of 172 million is down from 180 million a year ago.
Market position
VIL's market share declines to 16%
VIL's market share has also decreased to 16% from over 17% in September last year. The company's slight recovery comes as India's telecom sector is still dominated by Reliance Jio and Bharti Airtel, who together control more than 79% of the market. Both competitors added subscribers last month, with Jio leading with an addition of 3.1 million active subscribers.